K&L Gates Webinar: Finally a Final RESPA Rule
November 19, 2008
Tuesday, November 25, 2008
2:00 p.m. - 3:30 p.m. EST
Finally a Final RESPA Rule
Six years and 50,000 public comments later, we finally have a final RESPA rule. On November 17, 2008, the U.S. Department of Housing and Urban Development ("HUD") published its final rule to reform the Real Estate Settlement Procedures Act ("RESPA"). The rule has a profound effect on every settlement service provider, whether you are a mortgage lender, mortgage broker, title insurance company, settlement agent, real estate broker, or homebuilder. Among its many provisions, the final rule:
- Requires a new three-page Good Faith Estimate;
- Revises the HUD-1 Settlement Statement into a three-page form;
- Imposes certain tolerances on final settlement charges;
- Allows for the use of average charges; and
- Amends the definition of "required use."
Phillip L. Schulman, Partner, Washington, DC
Holly Spencer Bunting, Associate, Washington, DC
Attend via webinar. Call-in details will be provided the week of the event.
Click here to register online by 12:00pm EST on Monday, November 24.
If you have any questions, please email Meghan Bothe or call 202.778.9209.